The Italian Chamber of Commerce in Korea (ITCCK) together with the British Chamber of Commerce in Korea (BCCK), the European Chamber of Commerce in Korea (ECCK), the French Korean Chamber of Commerce and Industry (FKCCI) and the Korean-German Chamber of Commerce and Industry (KGCCI), with the support of Roland Berger Strategy Consultants, conducted a joint business confidence survey to gauge European companies’sentiments towards the overall business environment in South Korea. The results of the survey were presented to selected media partners by the presidents of the participating chambers on January 30, 2015.

The findings indicated that European businesses were generally content with their recent performance and acknowledged the importance and weight of the Korean market. Nevertheless, the surveyed companies recommended that the Korean government continues to make efforts to improve the regulatory environment and boost economic growth.
Rising labor costs and inconsistent regulations were considered the most challenging obstacles to operate a foreign business in Korea. In addition, the poll showed that the perception of unfair treatment towards foreign firms and non-tariff barriers were still persistent.